The price of an average starter home in London has reached more than £460,000, according to the latest figures from Rightmove.

Yet there are still homes to be found across the capital that are priced below £250,000, if you know where to look.

"While they’re not easy to find in the location people want, if people are willing to compromise on area or to put some time in to refurbish a place, they could find a property in this price range, especially in some of the further out boroughs of the capital,” says Rightmove director and housing market analyst, Miles Shipside.

However, buyers on a budget need to act fast because homes in this price range only represent 7.2 per cent of properties for sale, and are typically selling within 35 days. They are also showing signs of drying up as double-digit price rises in some of London's most affordable postcodes is pushing the number of cheaper homes to record lows, says Countrywide's research director, Johnny Morris.

We've uncovered 20 London homes for first-time buyers priced below £250,000. Start your search now, and you could be in before Christmas...